by Apparel Resources News-Desk
12-March-2018 | 2 mins read
American Eagle Outfitters Inc., a clothing and accessories retailer based in the United States, has unveiled financial results for the fourth quarter and full year 2017.
During the quarter under review, the fashion retailer noted a 12 per cent increase in its total net revenue to US $ 1.23 billion as compared to US $ 1.10 billion in the same quarter of last year.
It further reported an increase in gross profit from US $ 389 million to US $ 425 million.
Operating income of American Eagle Outfitters during the quarter stood at US $ 116 million including US $ 2 million of restructuring charges. Adjusted operating income noted a 10 per cent increase to US $ 118 million as compared to US $ 107 million in the corresponding period of last year.
In fiscal 2017, the company registered an increase of 5 per cent in its total net revenue to US $ 3.80 billion as against US $ 3.61 billion in the same period of FY 2016-17.
Operating income during the year under review remained US $ 303 million including US $ 22 million of restructuring expenses. Adjusted operating income declined by 8 per cent to US $ 325 million from US $ 353 million as compared to last fiscal.
During the year, American Eagle Outfitters opened 15 American Eagle stores and closed 25, ending the year with 933 stores.
The company is now expecting its first-quarter same-store sales to rise in the mid-single-digit percentage range against the market expectations for a growth of 3.2 per cent.
After the fourth quarter and fiscal results, American Eagle has also hiked its quarterly dividend by 10 per cent to 13.75 US cents a share.